Bid to rescue historic seaside hotel - property development finance

07 October 2008

The trustees of Clevedon's historic pier have made a bid to purchase a derelict seafront hotel after plans to convert it into flats fell through, it has been reported.

It comes after the firm that was supposed to be restoring the Grade II Victorian building went into receivership, according to the Evening Post.

Royal Bank of Scotland, which had provided the property development finance for the scheme, called in administrators in September.

And the volunteers who run the nearby pier now want to acquire the site to prevent it from falling into disrepair.

The chairman of Clevedon Pier Trustees, Niall Phillips, told the paper: "The pier desperately needs space for additional facilities like toilets, storage, officers and possibly a tea room."

He added that the trust had access to resources such as the Architectural Heritage Fund to finance the deal.

Meanwhile, property firm HBG Construction has changed its name to BAM Construction, reports the Yorkshire Evening Post.